If you missed our webinar on June 8th, “The State of Mobile Payments and Fraud,” this blog post provides a convenient summary recap.Read More
Reading the headlines today, you could get whiplash from the contrasting way in which the mobile revolution is being portrayed. For the "Root of All Evil" angle, consider these stories:
- A woman used her debit card to pay for a slot machine game app on her mobile phone and hours later discovered hundreds of illegitimate purchases totaling more than $5,000
- T-Mobile’s CEO revealed a breach affecting 15 million mobile users: "Records include information such as name, address and birthdate as well as encrypted fields with Social Security number and ID number (such as driver’s license or passport number) and […] this encryption may have been compromised."
- CBS News reported that a little-known global network called Signaling System Seven (SS7) is used by every mobile phone and has a security flaw that is an open secret among the world's intelligence agencies...and hackers. This security flaw can be used to intercept and record anyone’s calls, texts, or movements.
Today, less than 1 in 10 merchants get more than half of their revenue from the mobile channel. But that number is projected to triple to nearly 1 in 3 merchants in just two years. Those compelling numbers come from the recently published Mobile Payments and Fraud: 2016 Report.Read More
When it comes to fighting fraud, 8 of 10 organizations – merchants, acquirers, card associations, card issuers, and service providers – say it’s important to be able to detect if a mobile device is being used in an eCommerce transaction. Here’s the breakdown from the recently published Mobile Payments and Fraud: 2016 Report:
- 43% = Very Important
- 17% = Important
- 22% = Somewhat Important
82% says it’s important